Finance chiefs from the Group of Seven countries will commit on Saturday to join forces to fight the growing threat of international cyber attacks, Censor.NET reports citing Reuters.
"We recognize that cyber incidents represent a growing threat for our economies and that appropriate economy-wide policy responses are needed," the draft statement reads.
It also called for common shared practices to spot quickly any vulnerabilities in the world's financial system and stressed the importance of effective measures to assess cyber security among individual financial firms and at sector level.
The draft will be reviewed before publication later on Saturday by the G7 finance ministers and central bankers who are discussing issues facing the world economy at a two-day meeting in Bari, Italy.
It was reported yesterday that ransomware attacked computers in 74 countries around the globe.